Abject pleading apologies. I know I’m getting this post up in the waning minutes of August 1st (for folks in the EST) but forgive me, I accepted a last minute gig and got home not too long ago.
Now, for my first student loan balance(s) update where my overall balance is below $100,000.00…TO. THE. NUMBERS!!!
| Account | Debt | Debt (7/1/19) | Min. Payment | Interest Rate |
| Private Student Loan 1 | $0.00 | -$10,231.32 | $110.46 | 0.000% |
| Private Student Loan 3 | -$847.07 | -$12,580.49 | $153.82 | 6.590% |
| Private Student Loan 4 | -$9,486.04 | -$13,280.33 | $45.40 | 3.625% |
| Private Student Loan 2 | -$6,790.66 | -$8,271.15 | $93.30 | 5.090% |
| Federal Student Loan 1 | -$21,440.37 | -$20,583.34 | $0.00 | 6.800% |
| Federal Student Loan 2 | -$13,946.84 | -$13,457.55 | $0.00 | 5.310% |
| Federal Student Loan 3 | -$11,184.47 | -$10,737.40 | $0.00 | 6.800% |
| Federal Student Loan 4 | -$7,748.09 | -$7,518.58 | $0.00 | 4.450% |
| Federal Student Loan 5 | -$5,561.12 | -$5,520.10 | $0.00 | 4.450% |
| Federal Student Loan 6 | -$3,147.30 | -$2,849.21 | $0.00 | 5.600% |
| Federal Student Loan 7 | -$2,863.10 | -$2,649.80 | $0.00 | 4.660% |
| Federal Student Loan 8 | -$2,457.12 | -$2,538.91 | $0.00 | 6.800% |
| Federal Student Loan 9 | -$2,307.18 | -$2,047.30 | $0.00 | 6.800% |
| Federal Student Loan 10 | -$2,003.02 | -$1,813.31 | $0.00 | 5.600% |
| Federal Student Loan 11 | -$1,639.01 | -$1,573.49 | $0.00 | 6.800% |
| Federal Student Loan 12 | -$1,144.25 | -$1,035.88 | $0.00 | 5.600% |
| University Student Loan 1 | -$3,651.05 | -$4,581.00 | $60.41 | 8.000% |
| University Student Loan 2 | -$3,090.59 | -$3,629.38 | $0.00 | 0.000% |
| University Student Loan 3 | -$411.79 | -$1,031.21 | $30.00 | 8.000% |
| University Student Loan 4 | -$216.42 | -$857.81 | $30.00 | 8.000% |
| Personal Student Loan | $0.00 | -$1,875.70 | $312.62 | 0.000% |
| Total | -$99,935.49 | -$128,663.26 | $836.01 |
July 2021 – Student Loan Balance(s): -$101,626.31
August 2021 – Student Loan Balance(s): -$99,935.49
Total Payments: $1,788.62
Net Difference: $1,690.82
July was not my best month ever in terms of student loan debt payments but it will certainly be a month I remember. In addition to finally making it below $100K in student loan debt, it also feels like I’ve turned a corner in other ways…
As of July 31st, thanks to some persistence and gig income, Private Student Loan 3 is barely hanging on…more about that tomorrow.
Gig Income Goal for August: $1000.00
If you have read any of my recent posts, then you know I have joined the slightly less brave new world of gig apps and have decided to use them as a way to generate additional income, without committing to a fixed schedule. Each Friday, I will post the additional income I earned since the preceding Friday (so Friday to Thursday). I have been using the apps for about two weeks now and I really like them thus far. I feel like their is enough flexibility with scheduling for me to earn $1000.00 for the month of August without stressing myself out (this is prior to the 30% I set aside for taxes et. al. You can read more about my decision making about this amount here). I think $1000.00 is ambitious enough that I will have to push myself, but not too ambitious as to be paralyzing, AND would make a huge impact in my ability to pay off my debt.
July was a good month.
Ms. Afro Penny 
OK, seeing what PSL3 looks like has me reconsidering my caution about the gig apps…. good for you! A very good month indeed.
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Hahaha…NO! I have come to rely on you as the voice of reason. I really do appreciate you. But yea…the gig apps have meant more of my August 1st income will actually go towards paying off the next loan than PSL 3. I’m so excited. I wanted to post today about PSL 3 but talked myself into waiting until tomorrow evening when my student loan servicer adds those three sweet words to my loan account: PAID IN FULL.
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Wow 😯 I didn’t realize how much of a difference gig income was going to make but $1000 extra is HUGE!!
I know this is going to be an early congrats, but woooot 🥳🥳 I’m excited for PSL3 to be destroyed!
I’m patiently waiting for your med school preparation /summer plan post, but I’m having the same concern as C with you overworking yourself if you take on too many gigs.
That extra $$ though! I guess as long as you’re still taking care of yourself and giving enough time for rest, I’m all for it!
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Thank you, Avery! I just posted the PSL3 PAID IN FULL post so your congrats are right on time.
Lol…yes, I know I owe you all the med school/career/summer plan post. It’s coming, I promise. I just try to bring things to you all when they are a bit more…”settled.”
Appreciate the support ❤
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Making $1000 using gig apps in August is an exciting goal! I bet that is motivational. And I’m so psyched for you that PSL3 is almost in the rear view!
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Thank you, Ellen! You are absolutely right. Because my journey is so long (and will be so much longer) having smaller goals to focus on really helps me to stay motivated.
PSL3 is gone! Thank you for all the support!
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